Annual Exclusion Gifts of Member Interests in Limited Liability Companies Part II
Mar 29, 2011
In Hackl, Sr. V. Commissioner[1], The Seventh Circuit upheld a tax court decision which denied present interest treatment to the transfer of a fractional interest in an Indiana LLC to donees comprised...
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Annual Exclusion Gifts of Member Interests in Limited Liability Companies Part I
Mar 29, 2011
Some transfers for less than full and adequate consideration are excluded from the definition of taxable gifts. The most common exclusion is the annual exclusion gift. Under ?2503(b) of the Code a d...
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Are discounts permitted for transfers of interests in SMLLCs?
Mar 29, 2011
The answer to this question according a single tax court case is yes . Pierre v. Commissioner, 133 TC No 2 (2009). In that case the Tax Court rejected the IRS position that because the entity was disr...
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What Every Small Business Owner Should Know About Business Succession Planning
Feb 07, 2011
If you own a small business in the United States, the chances of successfully passing your business to the next generation are less than 1 in 3. Most small businesses fail to make the transition due to...
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Making Sure your Donations to Support your Church and its Activities are Deductible
Jun 30, 2010
Charitable Deductions are a matter of legislative grace, not divine right. So when you render unto God what is God's, you need to take into account that which is Ceaser's if you are going to obtain a c...
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Tax Benefits of Donor Advised Funds
May 19, 2010
The present economic environment has caused many donors to take a closer look at how there charitable giving dollars are being spent by recipient charities. Donors are also focusing on the income and e...
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